US EditionIBM's $40B stock wipeout is built on a misconception: Translating COBOL isn't the same as modernizing it
6 Articles
6 Articles
IBM's $40B stock wipeout is built on a misconception: Translating COBOL isn't the same as modernizing it
On Tuesday, Anthropic published tools that let Claude read, analyze and translate legacy COBOL into modern languages like Java and Python. By the end of the trading day, investors had wiped roughly $40 billion from IBM's market cap — the company's biggest single-day drop in 25 years — pricing the announcement as an existential threat to IBM's mainframe business.The reaction was swift. It was also built on a fundamental misreading of why enterpri…
The AI Domino Effect: How Artificial Intelligence is Beginning to Erase Entire Job Sectors
This article was originally published by Mike Adams at Natural News. Stock Market Fallout In a single afternoon, a technological announcement triggered a financial tremor, erasing an astounding $30 billion from the market capitalization of IBM [1]. The catalyst? An announcement from the Artificial Intelligence firm Anthropic regarding its AI model’s newfound proficiency in understanding and potentially automating legacy COBOL programming code. …
2026 could go down in history as the year the COBOL language, a very old but still widely used language in global banking transactions and related mainframe systems, was retired. - on macitynet.it Anthropic's AI now writes software in COBOL and IBM's stock price plummets.
It's only a post by Anthropic about Claude Code to sow a panic, animated by some mainstream media and IT as well as comments from supposed experts. And IBM falls heavily on the stock exchange: -13%. Let's try to see a little clearer about this panic that is not one.The post in question is "How AI helps break the cost of modernizing COBOL". COBOL is a historical language that has existed for over 65 years. It's ubiquitous in banking transactions.…
IBM and Related Stocks Plummeted on Anthropic-COBOL Blog Posts
IBM’s stock experienced a sharp decline on February 23, 2026 with effects carrying into the 24th, following an announcement from Anthropic about enhancements to its Claude AI model—specifically, capabilities in Claude Code for modernizing legacy COBOL systems. The drop was significant: IBM shares fell around 13% not exactly 10%, though intraday lows hit near that […] The post IBM and Related Stocks Plummeted on Anthropic-COBOL Blog Posts appeare…
IBM's IBM recorded its largest ria drop in more than 25 years this afternoon (23). The drop fell to a generalised sale of technology es, which was affected by an article on IA's negative effects that has been viralized on the Internet. Read more (02/24/2026)
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